" The Oxford Dictionaries defines technology as "The application of scientific knowledge for practical purposes, especially in industry: 'advances in computer technology' -- 'recycling technologies.'" Argument against holding back on technology Yes, technological change is "biased towards high skilled labor, either by design or by nature," according to author Mark Sanders (Sanders, 2005, 28)
Mis Quarterly, 2014, EBSCOhost. The main points of this peer-reviewed article included the fact that there is today a worldwide digital infrastructure of "…computers, mobile devices, broadband network connections" and other advanced platforms (Fichman, et al
The second problem is that, a large change occurs when trend combine changing the face of the business, hence companies need to oversee these major changes in order to remain afloat in the market. The inductive scenario The inductive scenario planning was the method of choice as it paints a very rich environment for innovation whilst the scenarios are quite transformational (Curry and Schultz 2009)
Sometimes the results were conflicting with present trends. The planning phase Most companies have mapped out commendable research into future trends but at the same time don't implement the ideas with investments and strategies (De Geus 1997)
Discovery phase consists of two processes: Weak signals environmental scan Internal future audit Internal futures audit By definition, the internal future audit is the assessment of a company's immediate future. What are the belief systems which drives strategy and plans of a firm? What is necessary for a firm to comprehend regarding its goals and future? The results will show the firm's actual future which the top leadership dictates by making such decisions (Ertel and Randall 2005)
Section 2: Applying the chosen Strategic Foresight Model (SFM) According to the literature, the foresight approach moves from one method to another sequentially. It does not recommend chasing a single method for that matter (Hines and Bishop 2007)
Section 2: Applying the chosen Strategic Foresight Model (SFM) According to the literature, the foresight approach moves from one method to another sequentially. It does not recommend chasing a single method for that matter (Hines and Bishop 2007)
Extrapolation Humans are not exactly versatile at predicting the future trends. According to Ray Kurzweil, technological change is noteworthy in this regard, as human mind predicts trends linearly (Kurzweil 2005)
By definition, Participatory futures means latest tools in use developed from technologies which support multiplayer online video gaming. The method was taken in consideration due to the fact that it could involve millions of people in reacting and experiencing the trends of the future (McGonigal 2011)
They use hit-and-trial method to measure the success of innovation. Apart from that, OMM emphasizes on complex product innovation can emerge from using present knowledge regarding food in new ways (Moreira and Silva, 2010)
The foresight projects are always aligned with goals of a company regarding the future. The leaders are hence able to employ them with immediate effect (Ted et al
Market-based models In the Research and Development Model (RDM), technology-led product innovation is measured by the shared knowledge about a specific product and its process with respect to customer values. It also entails elements, which combine these two processes (Tollin, 2008)
The inductive scenarios will take in consideration the clash between global drivers at work (clash of weak signals and futures audit). Using the Hero's Journey template (Vogler, 1998), the scenarios were created whilst the graphic recorders showed the stories mapped out by the team
Moreover, the company ensures recognition of the contribution of the employees in the performance of the organization and provision of incentives consistent. Tying incentives to innovation stimulates employees to develop additional ways of performing organizational activities, thereby, innovation within the company (Chandler, 2006)
It imparts them with the required knowledge and skills required for executing organizational activities. Similarly, providing them with training ensures that the organization meets personal and professional needs of the organization (Kemerer, 1997)
Organizational analysis shows that the company aligns organizational strategies to its mission and vision to ensure innovation and realization of the stated organizational objectives. Aligning the strategies also creates awareness among the employees; hence, ease realization of the desired objectives (Scotchmer, 2006)
9). In addition, since 2000, Sprint has used an affiliate program to reduce risk and improve profitability (De Kuijper, 2009)
33). The corporate culture at Hewlett-Packard rewards risk-taking and innovative thinking, but this creative culture did not just fall out of the sky but was rather the result of planning on the part of top management in response to the need to rapidly formulate software solutions across a wide range of departments (Mauzy & Harriman, 2009)
Sprint Sprint is a global provider of data, voice and Internet services. The company provides services to more than 26 million business and residential customers in more than 70 countries and has more than 80,000 employees (McMahan, 2009)
Currently, Hewlett-Packard has more than 317,000 employees worldwide (Number of employees at Hewlett-Packard, 2014). An assessment of the various programs in place at Hewlett-Packard shows that the primary factors that facilitate innovation are an organizational culture that supports risk-taking, highly skilled staff, top-down support from management, an emphasis on multidisciplinary teams and using checkpoints to provide focal points for progress (Rivas & Gobeli, 2009)